Property group Remax’s National Housing Report Q1 2026 indicated that there has been an increase in first-time buyers and returning buyers despite economic uncertainty.
Image: Greg Cox
There has been an increase in first-time buyers and returning buyers despite economic uncertainty, according to Estate agent Remax’s National Housing Report Q1 2026.
Adrian Goslett, CEO and Regional Director of REMAX Southern Africa, said that during the first two months of 2026, average house prices reached a milestone, with positive real increases recorded for both first-time buyers (FTBs) and repeat buyers through BetterBond’s origination service.
Goslett added that while the property market entered 2026 on a strong footing, geopolitical tensions created a more challenging economic environment as the quarter progressed.
“Rising uncertainty placed pressure on inflation expectations worldwide, prompting central banks, including the South African Reserve Bank, to adopt a more cautious approach towards the middle of the year,” he said.
Goslett said that monetary policy authorities paused the rate-cutting cycle in their January meeting due to the double-edged inflationary effect of the higher oil price and the depreciation of the rand.
“Affordability has become an even greater priority for buyers. With house prices in the Western Cape sitting at nearly double the prices of other provinces in South Africa, many buyers appear to be broadening their search to more affordable regions where they can find better value for money.”
Goslett added that this has contributed to renewed interest in markets such as Gauteng, where comparatively lower prices continue to support demand.
“This changing buyer behaviour is reflected in national deeds office data, which shows Gauteng accounting for 50,8% of all property transfers during the quarter, making it the country's most active housing market by volume.”
Goslett said that the province's strong performance played a significant role in driving South Africa's overall 7,47% increase in units sold, suggesting that buyers are increasingly gravitating towards regions that offer greater affordability and value. “Price remains one of the key drivers behind this shift in buyer interest,” he said.
Goslett added that according to the Average REMAX Sales Price, the Western Cape's average for Quarter 1 of 2026 was R3,357,917, putting it at 72.1% higher than the average of R1,951,230 across the rest of South Africa.
“In this context, many buyers are increasingly looking beyond the country's most expensive province, as evident in the top searched suburbs listed above,” he said.
Goslett said the first quarter's results suggest that South Africa's property market is not slowing down, but rather evolving, and that adaptability will be a defining feature of the market in the months ahead.
Gavin Lomberg, CEO of ooba Home Loans, said there was a trend of young South Africans increasingly choosing to purchase homes on their own, signalling a shift in how the country's newest generation of homeowners approaches both property ownership and adulthood itself.
“Today's young homebuyers are approaching property ownership very differently to previous generations. For many, buying a home is no longer something that happens after they've settled down. Instead, it's becoming one of the first major financial decisions they make as they build their careers, establish their independence, and create stability for the future,” he said.
Lomberg added that one of the clearest trends emerging from ooba Home Loans data is the growing dominance of single-applicant home loan applications.
“Despite affordability pressures, rising property prices, and broader economic uncertainty, young South Africans are increasingly purchasing property without a partner. In 2026, 76,9% of all home loan applications from homebuyers aged 18 to 24 were submitted by single applicants, up from 68,4% a decade ago.”
Lomberg said that while affordability pressures, rising property prices, and broader economic uncertainty might be expected to encourage greater levels of co-buying, the opposite appears to be true.
“Across provinces, demographic groups, and age categories, single applicants continue to dominate the market. The data also reveals that many homebuyers are entering the market before starting families. Among homebuyers aged 18 to 24, an overwhelming 92,5% of applications in 2026 came from individuals without dependants. For those aged 25 to 34, the proportion rose from 63,6% to 72,2% over the past decade, while buyers over 34 without dependents increased from 49% to 57,7%.”
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